Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 100.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,139 shares of the oil and gas producer’s stock after purchasing an additional 23,140 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Canadian Natural Resources were worth $1,533,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in shares of Canadian Natural Resources by 0.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,774 shares of the oil and gas producer’s stock worth $1,662,000 after purchasing an additional 204 shares during the last quarter. Cloverfields Capital Group LP increased its stake in Canadian Natural Resources by 0.8% in the 1st quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer’s stock valued at $2,444,000 after buying an additional 253 shares during the period. Burgundy Asset Management Ltd. raised its position in Canadian Natural Resources by 1.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 29,908 shares of the oil and gas producer’s stock worth $2,282,000 after buying an additional 339 shares during the last quarter. RFP Financial Group LLC lifted its stake in shares of Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 352 shares during the period. Finally, Park Place Capital Corp boosted its holdings in shares of Canadian Natural Resources by 100.0% in the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

CNQ opened at $35.11 on Friday. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The stock has a market cap of $74.70 billion, a P/E ratio of 13.99 and a beta of 1.50. The stock’s 50 day simple moving average is $34.97 and its 200 day simple moving average is $36.06. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The business had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter last year, the business posted $0.43 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.5 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.388 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is 66.14%.

Analyst Ratings Changes

Several research analysts recently issued reports on CNQ shares. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Wolfe Research initiated coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $49.50.

Canadian Natural Resources Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).